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Japan's largest power generator and top LNG buyer, JERA has secured adequate LNG inventories through July to cover Middle East supply disruptions caused by the US/Israeli war with Iran, a company executive told Reuters.
Spain's energy company, Repsol and Italy's counterpart, Eni are trying to increase production at Venezuela's Cardon IV gas field to 645 mill cu ft per day, according to its project manager, talking at a Caracas oil conference.
Vietnam is importing more LNG at elevated prices, as the Iran war curbs global supplies.
Russia's oil and gas revenues from taxes are likely to increase next month, due to higher oil prices boosted by the Iran war.
BP posted strong first quarter 2026 results, with higher Gulf of Mexico output offsetting Middle East disruptions and a North Sea divestment. Adjusted net profit hit $3.2 billion, more than double the nearly $1.4 billion a year earlier, the London-based company announced today.
Orders for LNG carriers are rebounding with Korean and Chinese shipbuilders contracting 35 new LNGC builds in the first quarter of 2026, compared with 37 over the entire last year. Commissioning of Atlantic Basin capacity spurs tanker demand, offsetting fears that Middle East supply disruption may curb shipping demand.
Talks in abeyance. In a new move, Iranian Foreign Minister, Abbas Araghchi has arrived in Russia to drum up support for the war from President Putin.
Paris-based International Energy Agency’s (IEA) latest quarterly report showed how the ongoing supply shock and infrastructure damage from the Middle East conflict are increasing price volatility and pushing back the easing of global gas balances.
Canadian pipeline operator, Enbridge has confirmed that the Canadian Government had approved the Sunrise expansion programme, a $4 bill natural gas expansion of the company’s British Columbia Westcoast pipeline system.
The first phase of the EU’s ban on Russian LNG has taken effect this weekend, removing an initial slice of the 20.3 bcm imported in 2025 at a time when European buyers are already competing for replacement cargoes for lost Qatari supply.
